This week Chinese ball bearing manufacturer China Jiangsu Golden Horse Steel Ball inc. announced that it will be seeking listing on the Frankfurt Stock Exchange. According to management, this move comes as an effort to gain international exposure and tap into the European investing market. “European investors have a strong interest for investing in both steel and manufacturing companies. Particularly Chinese companies with projects where there is leverage to rising commodity prices plus the blue-sky potential of an aggressive expansion program that can significantly increase revenues. This new listing provides the company with increased exposure to worldwide capital markets,” says Qiang Ma, President of China Jiangsu Golden Horse Steel Ball, Inc.
China Jiangsu Golden Horse Steel Ball is one of the leading corporations manufacturing steel balls bearings in China, and it is also an enterprise producing stainless steel balls appointed by the coal industry department. They also manufacture various kinds of non-standardized steel balls and a highly effective vibration isolating lubricant. The company’s revenue has been increasing since 2001, with recent sales of $4.1 million for fiscal 2005, $11.5 million for fiscal 2006 and most recently filed $7.9 million for the eight months ended Aug. 31 2007.
The company has also shown strong positive cash flow and working capital while keeping a current ratio above 1.1 since 2004. Based on the company’s strong historical performance and their current initiatives to expand to new European markets and raise capital for their future endeavors, the future looks bright for China Jiangsu Golden Horse Steel.
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